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Electromedical & electrotherapeutic apparatus company · DE · FY ends Dec · Revenue $35M · -41.97% margin · -$7M FCF
The business is unprofitable at the operating level (-41.06% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 27.2% YoY with margins expanding 7.2pp.
ROIC dropped from -96.10% to -98.57%, capital efficiency is deteriorating. Negative free cash flow of -$8M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$35M
▲ +27.2% YoY
Net Income (TTM)
-$15M
▼ -17.5% YoY
Op. Margin
-41.97%
▲ +7.2pp YoY
ROIC
-132.08%
▼ -2.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$7M
▼ -18.8% YoY
Op. Cash Flow (TTM)
-$7M
▼ -17.8% YoY
Net Debt
$655K
Cash & Equiv.
$9M
5Y CAGR: +55.7%
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